Part exchanging my house

[housebuyer]

I'm house hunting and the developers of some of the new builds that I've looked at have offered part exchange deals for my current house. I realise that they won't offer the full market value for my house as they'll be looking to sell it on at a profit, however is it worth it for the convenience?

Does anyone have any personal experiences of these kind of deals (particularly with Miller Homes)? Would you recommend a part exchange?

By how much will they knock down the price of my house? I don't know if it's relevant but the house that I'm selling is worth approx �160K and the house that I'm interested in buying is �250K.


Many thanks.

[Velvetee]

If your house is older, then it's probably better built than any newbuild home. I have purchased 2 newbuild properties over the last two years and both were vastly overvalued. Each has lost at least �30K in value since purchase.

I personally would opt to buy an older property everytime. I'm no expert, but if it was me, I wouldn't go for their part exchange offer.

[VICTIMS]

i agree with velveteen, but i do understand why people buy new, everything is done, easier to keep clean, just move in, no work required !
i sold last year, it took ages, and i had to reduce the price. so selling to the builder is a good thing and he will give you market value of yours. i think new house prices are over inlflated, but if you are going to stay for a long time, better than struggling to sell yours, the way the market is, the builder may be desparate to sell and give you a good price.